12.06.2015 - Crude to trade in $55-75/bbl range, gold to slip: ANZ
The crude oil market is at an interesting juncture at the moment. The prices around where we are now USD 65-70 per bbl is the market cannot find equilibrium there. We are expecting the market would trade somewhere between USD 55 per bbl and USD 75 per bbl probably for the next 12 months. Gold prices will drift lower, probably over the next four months. Gold has been stubbornly range bound for probably the past three-six months just trading between that 1,170 up to 1,220-1,230 area. We had a pretty good attempt at a lower break after the non-farm payrolls on Friday where we touched 1,165 on the lows. But the markets really traded back up...............................................Full Article: Source
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